Deduction for maintenance of handicapped dependant: insurer schemes allow tax relief subject to nomination and medical certification. Deduction permitted resident individuals or HUFs to deduct amounts paid into approved LIC or UTI schemes for the maintenance of a handicapped dependant, ... Summary
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Deduction for maintenance of handicapped dependant: insurer schemes allow tax relief subject to nomination and medical certification.
Deduction permitted resident individuals or HUFs to deduct amounts paid into approved LIC or UTI schemes for the maintenance of a handicapped dependant, subject to scheme approval, nomination of beneficiary, annuity or lump-sum benefit on subscriber's death, and certification of the dependant's permanent disability; amounts become taxable as income if the dependant predeceases the subscriber.
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